Britain pledges to send more lethal weapons to Ukraine
April 1, 2022, 7:11 am

Britain pledges to send more lethal weapons to Ukraine

UK-London-Themes/Pixabay

The We For News reported, British Defense Minister Ben Wallace said on Thursday that the UK and “a number of [other] countries” are sending more arms to Ukraine in a bid to hold back the Russian military. Britain has already sent thousands of anti-tank missiles into the war-torn country.

Wallace told reporters after a donor conference in London aimed at increasing arms shipments to Kiev: “There’ll be more lethal aid going into Ukraine as a result of today. A number of countries have come forward either with new ideas or indeed more pledges of money.”

Wallace said that Britain’s latest cache of weapons would include longer-range artillery, ammunition, and anti-air missiles.

The UK has already donated more than 4,000 NLAW anti-tank weapons to Ukraine, at a cost of £20,000 ($26,300) per disposable unit.

Earlier this week, Prime Minister Boris Johnson told his cabinet that he wants to send Kiev “more lethal” weapons, reportedly mentioning artillery, anti-ship missiles, and more advanced air defense systems. It is unclear whether the air defense systems mentioned by Johnson and Wallace would be shoulder-fired missiles, like the ‘Stinger’ units already sent by some NATO countries, or larger vehicle-mounted missile batteries.

Britain's Defence Secretary Ben Wallace listens to Japan's Prime Minister Yoshihide Suga at the start of their meeting at the prime minister's official residence in Tokyo, Japan on July 20, 2021. (Photo: REUTERS)

Sending the latter into Ukraine would pose problems of its own, as Russia has declared convoys of military equipment to be “legitimate targets” once on Ukrainian territory.

The effectiveness of the weapons already sent by the UK is hotly debated. The Ukrainian government claims to have destroyed far more Russian equipment than Moscow records lost, while the Russian government says that its military operation is proceeding according to plan. Russian troops have successfully tied down Ukrainian forces near Kiev, and are now being withdrawn to concentrate on “the final stage of the operation” – defeating the Ukrainian military in the Donbass region, Moscow insisted on Wednesday.

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For the Ukrainian military, foreign arms shipments are essential, as the country’s defense industry has been “practically destroyed,” an adviser to Ukrainian President Volodymyr Zelensky, Alexey Arestovich, said this week

Moscow attacked its neighbor in late February, following Ukraine’s failure to implement the terms of the Minsk agreements signed in 2014, and Russia’s eventual recognition of the Donbass republics in Donetsk and Lugansk. The German and French brokered protocols had been designed to regularize the status of those regions within the Ukrainian state.

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Russia has now demanded that Ukraine officially declare itself a neutral country that will never join the US-led NATO military bloc. Kiev insists the Russian offensive was completely unprovoked and has denied claims it was planning to retake the two republics by force.

Source: wefornews

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.